Govt. support corporate risk management with the entry into force of the law on penalties for disasters in the workplace
This computer-generated image provided by Yonhap News TV depicts industrial accidents. (Yonhap)
The law, passed by the National Assembly last year, will come into effect Jan. 27, under which owners and CEOs of businesses with five or more employees can face a minimum sentence of one year in prison or up to ‘to a fine of 1 billion won. ($ 833,000) in the event of serious accidents at work.
To help companies strengthen safety measures, the Ministry of Labor has announced that it will create a joint policy committee between government agencies, representatives of labor and employer communities and experts to propose measures to deal with workplace accidents. job.
The ministry also plans to offer consulting services related to workplace hazards to 3,500 companies with between 50 and 300 employees.
Businesses with high disaster risk, such as construction companies and large petrochemical industrial complexes in Yeosu City (southwest), Ulsan City (southeast) and central Chungcheong Province of South, will be subject to a government risk monitoring system, the ministry added. (Yonhap)